inthemoneystock (< 20)

Research In Downward Motion

1

Research In Motion Ltd.(NASDAQ:RIMM) is one of the leading mobile device makers in the world. The stock has been weak on the daily charts since topping out on February 18, 2011 at $70.54 a share. The stock is declining again this morning by $1.00 to $61.40 a share. Traders can watch the $60.95 area for intra-day support. Please remember that the major stock indexes are weak today and this support level may not hold up very long if the market declines further. The next Intra-day support area would be around the $60.50 area.

Earnings are out on Thursday which will govern the direction in the interim period. If you're a value/growth investor it may be worth waiting until this uncertainty plays out otherwise you will be speculating on the earnings potential of the company. Could be a great buying opportunity if the street doesn't like it though.